Otello Corporation ASA

Investor Presentation • Mar 30, 2021

March, 2021

Earnings Release Presentation

2020 – Full Year and Quarter Results For additional information, please read carefully the notice at the end of this presentation.

Initial Public Offering

On February 2021 Bemobi concluded its IPO process becoming a listed company on the "Novo Mercado" of the Brazilian stock exchange (B3)

This was a key milestone in Bemobi journey that started 11 years ago and marks the beginning of a new phase.

Bemobi Overview

Business Model

End-to-end platform connecting mobile users and apps & games devs through mobile carriers billing bridging the gap in emerging countries for monetizing digital services

Scalable and Profitable Business Model

ADDRESSABLE USERS OF SERVICE

Growth is driven by two Key Dimensions

DIGITAL SERVICES

Once a service is live with mobile carrier, existing customers become part of Bemobi's addressable market

DIGITAL CHANNELS

Distribution channels are needed to promote services to the addressable market at a sustainable low cost

Growth comes from combining multiple compelling digital services across multiple countries and carriers with a wide reach of digital distribution channels SERVICES WITH MULTIPLE CARRIERS Agreements and billing integration with carriers to create an addressable market MULTIPLE CHANNELS Promote services through various digital mobile channels to an addressable market

REACH OF DISTRIBUTION CHANNELS (LOOP)

Key Digital Service Offerings

Premium Apps & Games, Voice and Microfinance Services

APPS SUBSCRIPTION

Subscription of the top apps & games packaged at a low price point affordable model.

MICROFINANCE & COMMUNICATION

Microfinance solutions of digital top-up and advance of air-time, voice and data, and voice messaging services.

EXAMPLES: EXAMPLES:

Bemobi's Distribution Channels

INDUSTRY STANDARDS

MOBILE CARRIER PROMOTIONS

PAID ONLINE CAMPAIGNS

Carrier promotes and sells the services through their own channels

Digital campaigns with leading mobile digital properties (e.g. Google, smartphone OEM's, etc..)

EXAMPLES: EXAMPLES:

• Messages campaigns (SMS//RCS)

• and bundles
• Revenue share based (e.g., Opera Mini) • Paid per acquisition - CPA • Store promotions decision engine

PROPRIETARY CHANNEL PLATFORM

LOOP - AI AND DATA ANALYTICS MOBILE ORCHESTRATION

Bemobi proprietary tech platform that leverages mobile users events to create digital journeys with contextualized targeted offers

• Data driven and rule-based

• No Credit & No Data Portals and Voice Portals

Net Revenues 2020

Increasing Revenues as our playbook execution evolves

• Company presents consistent growth year over year since its incorporation in 2009;

• International operations are constantly growing as Bemobi intensify its globalization efforts;
• Core organic growth based on the expansion of digital channels (i.e. Loop) and launching new digital services

Gross Margin, Opex and EBITDA

Solid Results

Gross Margin(1)

(R\$ mm ; %)

EBITDA(1) and EBITDA Margin

• Another year of consistent healthy gross margins and controlled administrative expenses driving an YoY EBITDA growth of around 11%

• EBITDA margin slightly higher compared to 2019

Net Income and Cash Flow from Operations

High earning powers and solid cash flow

Net Income(1)

Operational Cash Flow (2) and OCF/ EBITDA

• Revenues growth plus efficiency agenda enhanced profitability driving a 23% YoY growth on Net Income.

• Asset light business model: low capital expenditure on fixed assets and low working capital needs;

• Tax benefits for next 4 years drives a reduced income tax payments and higher cash generation from operations;

• Operational Cash conversion ratio represented 83% of the EBITDA in 2020.

Note: (1) Net Income exclude exclude Bemobi Ukraine's revenue against related parties and its taxes impacts. (2) Operational Cash Flow is equal to EBITDA less Capex

Subscriptions and Transactions

Presence in customers life-cycle through Loop brings Strong potential of upsell

Average user paid active subscriptions base of Apps and Communications services during 2020 Carrier paid active subscriptions (Bundles) of Apps and Communications services at the end of 2020

Number of microfinance transactions including digital Top-up and Airtime/Voice/Data advances sold in 2020

Digital Services - Geographic Footprint

Bemobi International Presence

In 2020, we rolled out our Apps Services in 7 new carriers, ending the year with 72 partnerships with mobile carriers, distributed in 38 countries around the world.

Highlights and Closing Remarks

• We help closing the "monetization gap" in emerging markets for mobile digitals services
• Our Loop platform helps us to scale and is key to increase our services penetration moving forward
• New services opportunities such as microfinance and communications that leverages our digital channel can accelerate growth and expand Bemobi's market
• Despite the very negative economic impact associated with COVID affecting our target users, Bemobi had a solid 2020 with YoY growth in all key financial and operational metrics: Net Revenue, EBITDA and Net income
• Footprint and partnerships keeps expanding with 2020 ending with 72 carriers
• New partnerships beyond mobile carriers are on track and should increase our reach to final users

Disclaimer

No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. The information in this Presentation is in summary form and does not purport to be complete. It is not intended to be relied upon as advice to potential investors and does not form the basis for an informed investment decision. No person is under any obligation to update or keep current the information contained in the Presentation.

Neither we nor any of our shareholders, advisors or representatives undertake any obligation to provide the recipient with access to any additional information or to update this Presentation or any information or to correct any inaccuracies in any such information. None of the Company, any of its shareholders, directors, officers, , advisers or employees, shall be liable to any third party (including investors) for any investment or business decision made or action taken in reliance on the information and statements contained in this Presentation or for any consequential, special or similar damages.

You should consult your own legal, financial and accounting advisers to the extent that you deem necessary, and you must make your own investment decision based upon your own judgment and advice from such advisers, as you deem necessary, and not upon any views expressed herein.

This Presentation may contain forward-looking statements. Such statements are not statements of historical facts, and reflect management's current estimates regarding future performance. The words "anticipates", "wishes", "expects", "will", "estimates", "intends", "forecasts", "plans", "predicts", "projects", "targets", "budgets" and words of similar meaning or their negative and that involve risks and uncertainties are intended to identify these statements. Such statements are made on the basis of assumptions and expectations which, although the Company believes them to be reasonable at this time, the Company cannot guarantee that such statements will prove correct. All statements, when based upon expectations about the future and not on historical facts, involve various risks and uncertainties. Many of the factors that will determine the Company's future results of operations, financial condition, liquidity, performance, prospects or opportunities, as well as those of the markets it serves or intends to serve, are beyond the ability of management to control or predict and could cause actual results to differ from those in the forward-looking statements. Important factors that could cause those differences include, but are not limited to: changing business or other market conditions, general economic conditions in the applicable jurisdictions, and the Company's ability to respond to trends in its industry. Additional factors could cause actual results, performance or achievements to differ materially.

The information, opinions and forward-looking statements contained in this Presentation speak only as at the date of this Presentation, and are subject to change without notice. The Company and each of its directors, officers, employees and advisors do not intend to, and expressly disclaims any obligation to, update or revise any of the information, opinions or forward-looking statements contained in this Presentation to reflect any change in events, conditions or circumstances, except as required by applicable law or regulation.

This Presentation has not been approved by any regulatory authority and does not constitute a prospectus or form part of any offer, or invitation to sell or issue, or solicitation or any offer, to subscribe for or purchase, or any offer to underwrite or otherwise acquire any securities of the Company. Neither this Presentation nor anything contained herein shall form the basis of any contract or commitment.